Tag: unemployment rate

As we celebrate Women’s Month, we share our views on how far South Africa has come in transforming its patriarchal society - and what still needs to be done. If you were to review the Economic Freedom of the World Annual Report, you would note that South Africa scores 1.00 on the Gender Disparity Index, indicating that there is no legal difference in how women are treated relative to men under the law.

Intellectual property (IP) created at universities can contribute to economic and social development and can support entrepreneurs in generating income through innovative business ideas. Innovation arising out of university research constitutes a rich source of IP.

As we reflect on Women’s Month in South Africa, it is essential to acknowledge women’s contribution to society, the economy and unpaid care work – raising children, families and communities. Despite their massive contribution, women continue to face considerable challenges.

When we talk about youth unemployment in South Africa, we often use words like ‘heart-wrenching’ and ‘major challenge.’ Then we look at the statistics, and we realise that it is an understatement. What we are living now is a national crisis.

As we navigate the turmoil and disruption caused by the COVID-19 pandemic, all eyes are on keeping each other safe while preparing for a post-pandemic world. The custodians of this post-pandemic future are young people – and when one considers that the official unemployment rate for people under 35 in South Africa is 46.3%, the urgency of meaningful and sustained youth empowerment cannot be understated.

The COVID-19 pandemic has forced many individuals to significantly adjust their lifestyles. The personal finances of most South Africans have been greatly impacted by job losses, salary cuts or no bonuses/increases, so much so that their livelihood have taken a significant knock.

Lockdown rendered many things impossible, among them the ability for unions to 'show up' for their members in what has traditionally been the status quo for negotiation in South Africa: the organised strike. In many countries across the globe and particularly in South Africa, the ability to organise a strike is where a union best demonstrates its strength.

The impact of COVID-19 on the life insurance industry was recently highlighted when the Association for Savings and Investment South Africa (ASISA) released their 2020 statistics for the sector. ASISA reported that South African life insurers paid out claims and benefit payments worth R522.7 billion last year, representing a significant increase of R31.7 billion when compared to 2019.

Exports could hold the key to South Africa’s economic recovery and growth. South Africa is experiencing a record trade surplus in the wake of the COVID-19 pandemic with our exports far outpacing imports. Recent data released by the South African Revenue Service showed that South Africa recorded a trade surplus of R51.4 billion in April 2021, surpassing market expectations of R31 billion.

The normalisation of remote working and increased business adoption of cloud technologies have significantly increased the cyberattack surface putting every company at risk of compromise. With more than 10% of internet user computers worldwide experiencing at least one malware-class attack last year and Kaspersky solutions blocking over 665 million attacks launched from online resources in various countries, cybersecurity skills are now more in demand than ever.